h. The dollar amount of debits in a general journal entry must equal the dollar amount of credits. i. Unearned Revenue is reported on the Balance Sheet as a Liability. j. A company owes $9,000 on a Note Payable at the end of the year, but overlooks the need to make an adjusting entry for interest payable. As a result, reported Net Income will be overstated for that period. k. Accumulated Depreciation carries a credit balance and is a liability. I. The adjusting entry required for an unrecorded expense often involves recognizing a liability. m. A company ends the current year with sales of $600,000, accounts receivable of $100,000, and an allowance for doubtful accounts of $1,000, with a debit balance. Bad debts are estimated to be 6% of accounts receivable. The income statement should report bad debts expense of $5,000. n. Accounts receivable are reported at their net realizable value on the balance sheet. A company should report the cost of transporting a newly-purchased item of property, plant, and equipment as a part of the cost of the item. 0